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in seven months. although shanghai again trades lower even europe's pmi improves a touch in november. first up, we're one month away from the fiscal cliff and so far the white house and congressional republicans are still in disagreement over how to reduce the deficit and avoid a raft of tax hikes and spending cuts. yesterday our own jim cramer and maria bartiromo were on "meet the press" and cramer had a message for fellow panelists and father of the anti-tax pledge, grover norquist. >> most ceos are republican. they're on board. they're not on board with you. they're not on board with you because they fear your view. they think you do not favor going -- you favor going over the cliff. that's what they think. they think that you favor -- >> just for the record since we're on tv. that's silly if they think that they shouldn't be ceos. >> it doesn't really matter. that's what they think. >> i want you to walk me up to that moment. >> behind the record. i like that too. >> i'm stuck. like grover is stuck with this pledge he made everybody take which is that they have to go over the cliff beca
previously thought, although the session still looks very much on course for another quarter here for europe. the pmi will rise above 50 that divides growth between contraction. hasn't stopped the euro/dollar from hitting a one and a half month high. i suppose we know growth is going to be anemic, but if spanish banks are getting some money, are we feeling slightly better? >> that's what euro trades on, isn't it? pmis are all very interesting for the economist. but they want bigger stories. most of the news flow, it's helpful to the euro. people have been trying to affect this rally for a while. we are close to those october highs. the news flow has been good, i would say. >> we hit, what, nearly 131.80? >> before that, we go 131.40. the enthusiasm for euro is surprisingly good. we're surprised by how far this rally has gone on pretty thin news sometimes. >> i just want to recap what we've got. eurozone finance ministers meeting in brussels. an agreement still seems pretty elusive at this moment. germany and french finance ministers have very different views about oversight of banks. and in
't accurate because of the things in europe or something involved with the election. in other words, other than those shorting or going long stocks ahead of the quarter, these earnings reports need a context to make you money. they can't be relied upon any more because they aren't as predictive of future behavior as they once were. they are a piece of the puzzle. a part of the mosaic. but they are only one of many important parts of what predicts where our stock will go over the intermediate term. and that tends to be the focus that i teach on the show. it is a teaching show because i want you to know the metrics i'm using to pick stocks i talk about and recommend here. and with my travel trust which you can follow along. i also want to teach you how to listen to these conference calls, listen to the transcripts. at least give economy opini-- g you my opinion and what i think matter. i hope this show once and for all -- because this is what i see on twitter constantly -- use earnings season as a way to evaluate your portfolio, what to trim, what you need more of. hone your way of thinking.
. europe has also been a blend of red and green as the ft names ecb chief the person of the year. we're going to kick off with breaking news. for that would, we go to david faber. >> news on best buy, in the news yesterday. the stock up sharply. what we can tell you right now is the board of directors of best buy, and its founder, richard schultz, has been trying to put together a group to essentially buy the company in a go private transaction, have extended the deadline in which he would need to come with a bid for best buy and created a window in fact that will begin on february 1st next year and end with the end of that month on february the 28th. giving schultz the opportunity to look at not just christmas sales, but the end of their fiscal year, which will end at best buy on the 31st of january. and that window, again, will be 28 days long giving him an opportunity to continue to try to cobble together a bid with private equity firms and those who might finance a potential bid for the company at whatever price that might come at, if it were in fact to come at all. no word in te
in the overall market because of europe or something involved in the election. in other words, other than for those who are shorting or going long stocks ahead of the quarter, these earnings reports need a context to make you money. they can't be relied upon anymore because they aren't as predictive of future behavior as they once were. they are a piece of the puzzle. a part of the mosaic. but they are only one of many important parts that predicts where a stock will go over the interyacht term. that tends to be the focus that i teach on the show. and it is a teaching show. because i want you to know the metrics i'm using to pick stocks i talk about and recommend here. and pick for my charitable trust, actionalertsplus.com. i want to teach how you to listen to these calls and read the transcripts. i'm hoping this show will once and for all, because this is what i see at jim cramer on twitter constantly tell you how to evaluate your portfolio, figure out what you need to trim, what you need more of. let it help your stock selection hone your wave thinking. not mine. yours. earnings season
in yesterday's rally. we didn't get housing starts, that's earlier today. as for the picture in europe, really the stand outout here is the euro. greece getting a five notch upgrade at the s&p. our road map this morning starts with gm. government motors no more. the treasury to exit its stake in the next 12 to 18 months, purchasing 2 million shares by the end of this month. >> another challenging quarter for fedex with the blame squarely on sandy. but the stock is up pre-market. >> oracle posts a strong quarter with even stronger guidance. the season rebound in europe. no impact from the fiscal cliff. >> and ge gets boosted from ubs's key call list on the weaker than expected macro environment. still on the list is including -- well tell you in a couple of minutes. >> general motors is up sharply in the pre-market session. the treasury department says it intends to sell the rest of its stakes in gm in the next 12 to 15 months. the automaker will buy back 200 million shares from treasury for $27.50 a share. treasury says it plans to sell its other remaining shares through various means in an or
hikes, europe's grand experiment with taxing the rich more is falling apart, especially in france and britain. and here at home, california and new york are passing through the 50% tax rate barrier. is anybody looking at how tax hikes fail the test of economic growth? >>> back here in the u.s., could it be michigan which used to call itself the worker's paradise union state is now moving towards new anti-union right-to-work legislation and it looks like it's going to pass? but first up, budget talks resume between speaker john boehner and president obama today. with just 25 days to go, let's keep tabs on where we stand. reports of a conservative backlash against speaker boehner simply not true. he has the solid support of his leadership and the rank and file. but there is concern among some in the gop that they are at risk of becoming the party for rich people while president obama and democrats stake their claim on the middle class. and my tax rate flexibility with higher -- here's what the president said earlier today. >> i'm not going to sign any package that somehow prevent pr
to allow the world to pass them by or be bound by the confines of a weak europe including germany appears to be on the brink of recession. the last quarter was fabulous, best in its history. stocks a half a point off its high. terrific 51% gain since i got behind it on august of 2011. it's not done. i think it has room to run. let's check in with bill mcdermott, the ceo of s.a.p. welcome back to "mad money." >> good to see you, jim. >> best third quarter in history. >> yes. >> how is it possible? >> we're focused on the nexus of force as you mentioned. when we put the strategy of the company together we were determined to double the addressable market. where's the world going? it's going mobile. do you know anyone that doesn't have a mobile device? >> no. and i don't want anything else frankly. >> exactly. there's more mobile devices in the world than toothbrushes. that was good enough for us to focus on mobile. >> are you still the largest buyer of some mobile devices? >> yes, we are. i don't know if we're the largest, but we're up there. we have done a lot of work with apple no doubt ab
are you able to do so well in europe compared to america? is that just an example of you weren't disciplined in europe and you got a lot of business? i'm trying to understand. europe is harder right now than america. >> exactly. that underscores the point that what we do nobody else can do. we want to make the offer when your wallet is out of your pocket not six months after you leave the store. you can go look in the filing cabinet that oracle or s.a.p. or microsoft has and that's the 20th century. we're all about doing things in realtime. we make you that offer when your wallet is out and your credit card is in your hand. nobody else can do that. that's a universal big data realtime problem that only tibco can solve. >> you mentioned oracle and s.a.p. and analysts that i checked in with say that ibm has come on very strong. >> ibm is our strongest competitor. we beat them every single time in terms of technical performance. they do have strong relationships and at the end of the day we have to be three years ahead of the competition and we believe we are. >> okay. you had 25
keeps rates unchanged. europe continues to hang in there economically. >> and nat gas gets a boost. the government finds exporting it is better than keeping it here at home. >> apple as we mentioned in the spotlight today, shares of the tech giant coming off their worst day in four years, sliding back into bear market territory. the one day loss erased nearly $35 billion in market cap. that chunk is bigger than 400 other s&p 500 companies. apple ceo tim cook talked to nbc's brian williams in our rock center exclusive. >> why can't you be a made in america company? >> you know, this i found, as a matter of fact, the engine in here is made in america. and not only are the engines in here made in america, but engines are made in america and are exported. the glass on this phone is made in kentucky. so we have been working for years on doing more and more in the united states, next year, we will do one of our existing mac lines in the united states. >> you can see the entire interview with tim cook tonight on rock center, that's 10:00 eastern time on your local nbc station, but for now
't talk enough about it. and i've got to tell you, that's got to change in 2013. then there's europe. today, just today, i am wearing a tie that commemorates a brilliant strategy. one which works so amazingly that i'm still dazzled by it. what's happening on this tie? it's a man, a man in a suit kicking a can down the road. you see while the europeans were kicking the can, they gave themselves times to develop a plan to allow governments and banks to raise capital and fix the respective balance sheets at lower levels than anyone thought possible. coming into the year, you know what my number one worry was? we believe that every time italy and spain would have to raise money, do those deals, interest rates would shoot through the roof, bankrupting all involved, sovereign countries, companies, banks. instead, by letting cooler heads prevail through can kicking, smart private sector investors kicked the tires, not the cans, and they bought the debt. hit home runs every time they did. as rates came down hard, courtesy of bank backstop that did work. the europeans realized if they stopped
prefer to expand in asia than here, or even europe that i talk to. the bountiful energy found in america, all of the natural gas and all that stuff, i can think of just three companies taking advantage of it. and that's talking about exporting it. the partnership sign. a 20-year agreement with total today, cqp is the symbol there. the real problem is in the exporting of the cheaper, cleaner fuel that is natural gas. not burning it here. or manufacturing with it. the industrial renaissance as i've been telling you, as much as it just breaks my heart, is stillborn. it's not getting better. retail's a real worry. i think we've fallen off a gift cliff. so few companies i know are doing well this holiday season. it is looking like a total bust. courtesy of sandy, incredibly warm weather and, of course, the fear engendered by the serious issue that is the fiscal cliff. i see that weakness and i'm not crazy about these stocks, in general. but i think that the conclusion of the housing crisis is upon us. which means there will be more money going to building and fixing up homes in 2013 than ther
at what's been happening in europe, you'll see a similar story there. actually a little stronger gains. in france, the cac up by about two-thirds of 1%. in germany, the dax up by 0.4% and ftse in london is up by a quarter percent. in asia overnight, you did see the hang seng down by about 1.2%. shanghai composite down, as well, down by 1%. in consider rea, the kospi up by 0.6%. oil prices have been a little weaker. down by about seven crept cents. and ten year note yielding 1.61%. that's been stuck in a tight range for quite a while. take a look at the dollar this morning. you'll see the euro at this point is still above 1.30, 1.3029 even though the dollar down across the board. dollar-yen at 82.10. gold prices this morning are up by about $8. as the fiscal cliff approaches, we're wondering what we can expect from the markets. our guest hosts again barry knapp and richard bernstein. barry, you're concerned about the direction the talks have taken. >> yeah, it's interesting as i actually traveled through europe last week, there is all this focus on the timing of getting a deal. but ther
about europe. emerging markets, but have you a big exposure to europe. stock markets going up, but no economic activity to speak of. is that where the economic activity not picking up yet for you guys either? >> yeah, when you look at last season, the last lawn and garden season, it was down somewhere in the neighborhood of 15%, the market overall, and that was really reflective, obviously of decreased consumer spending and people feeling a lot of the impacts of macro economic conditions in europe. as we look forward, into europe, into this next season, we're calling it flat, simply because there are is so much uncertainty going on over there with how they solve economic problems. at the same time, geographic diversification is really important for us, especially in emerging markets. last week, friday, we closed on a deal down in brazil, one of the key markets we look at from an emerging market standpoint, a company by the name of bronco, which does a lot of high-end equipment, commercial type equipment for the brazilian market and we think that will be a really strong market
the slots at heathrow. those remain the crown jewel in terms of the airline business going over to europe. if you have access to those slots, it's a much easier way to become profitable or increase your profits over in europe. by the way, there are 31 daily flights between the uk and north america. we'll find out exactly what happens in terms of frequent flier redemption possibilities between delta and virgin atlantic. remember, virgin atlantic is not part of any global alliance, not part of the sky team alliance, although many wonder if that's going to change with some time. take a look at shares of delta. richard anderson has had a nice little move here. some people would say, listen, this is all about jet fuel as it has moderated. there's something else at play here. we'll be talking with richard anderson about this at 11:40, first on cnbc. we'll talk to him after the press conference announcing this deal. you don't want to miss what he has to say. this is a ceo, and we've talked about it several times, who is trying to take the steps that will help delta grow in the future. you look a
. as for the action in europe, really, the action focuses on italy where there's an impending political regime change. more on that in just a moment. the road map starts at the golden arches. mcdonald's blowing out expectations for november sales after the dismal drop in the month of october. hoping to fuel the rise, the bacon/onion/cheddar sandwich. >> there's one thing for certain, taxes on top earners are going up. >> turmoil in italy. berlusconi throws his hat in the ring. retail sales numbers out of china, hoping the economy is in fact on an upswing. >> apple, enthusiasm. jeffreys trimming its price target to 800 from 900, as apple shares do trade lower in the pre-market. we'll start with mcdonald's, posting better than expected november same-store sales, global comps up 2.4. u.s. same-store sales up 2.5, offered by breakfast offerings, including that cheddar/bacon/onion sandwich, as melissa mentioned. jim? people are saying the u.s. maybe is making a turn here. >> i find mcdonald's is levered to new products, levered to menu technology. they do invent things. my hat's off to janet. they had thi
-quality problem, turning around europe, taking india by storm, talking about adding thousands upon thousands of stores throughout china, even showed you numbers that said unlike yum, kentucky fried chicken, hasn't seen any deceleration in china. these are my ears like i listen, i've watched. howard schultz, call me crazy, investing with them, my bad. and then i heard the questions from the audience, i didn't even listen. what were they looking at versus what i was looking at. they were looking at john carter, i was looking at the new bond movie. one after another, they were all down beat. is the expansion too rapid? whether demand for expensive coffee is there. i was waiting for a guy to say, listen, that triple cappuccino it stinks. if i were howard, i would tell them to take a hike. they were too negative versus what the company's up to. opportunity. starbucks was actually down. one time -- i have the apple ipad, you know, thing i'm like, wow, it's under 50. i mean, wow. terrific opportunity. ipad, i mentioned it, surprised one didn't come down and hit me over the head and knock me out. ap
cheaper? europe. >> germany and france at two-week highs last week. >> there's a few countries over there. i like the relative value there. they've got a printing press. they're going to open that. what i learned is you don't fight the tape and don't fight a bailout. i've got about 30% off this country -- outside of this country. and added 10% in emerging markets. now i think that we've had a bloodless revolution again in china, i think it's a great place. look at emerging markets. better value while you wait around. >> and they've done well over the last year. it was just they've been the silent gain. you haven't quite realized they've been doing so well. >> i like it. i wouldn't rush into anything. if you hid cash on the side, what a good time getting in. >> this market has stopped reacting on a minute by minute basis to all the prognostications out of washington on the fiscal cliff. what do you make of that? are we becoming complacent? are we immune? what are you talking about on the floor? >> we just had the president speak. nothing there. china numbers tomorrow. then germany. maybe n
of the former brish colonies. in europe the dax down about there about 35 points, around half a percent. and overnight in japan, the nikkei, the yen falling to a 20-month low. you have the nikkei up 1.5%. the nikkei -- yen versus the dollar as shinzo abe returns to office as japan's new prime minister, promising monetary and fiscal reforms. we have the shanghai composite there up about a quarter percent. >>> all right. in today's top stories, the u.s. is five days away from going over the fiscal cliff. president obama is cutting his holiday vacation short, returning to washington tomorrow to continue talks to try to avoid that automatic tax hike and spending cut combination. that's the same day that congress returns to town. before the president left town on friday, he suggested a stopgap measure to freeze tax rates for people making less than $250,000 a year and extend unemployment benefits. reports say white house staffers have been quietly working with senate democrats to come up with a plan to avoid the fiscal cliff, but little progress has been made. >>> a chinese ratings agency is
coming. >> all aboard. >> think about how often have we been clobbered by the mess in europe. every time things start to look less horrible across the atlantic, every time we begin to wonder it maybe, just maybe, the worst is finally past, there's some hideous headline out of greece or portugal or spain or italy that the comes back with a vengeance and the s&p gets bashed down by a torrent of selling. that's why it's so important to prepare yourself and your stocks for the next catastrophe around the corner. expected or unexpected, so that you can make money in any market, or at least lose less and not just when things are going smoothly. you have to build this stuff into what i call your world view. you have to assume that somewhere, sometime, something will go wrong. i'm not saying you should be a super skeptic perma-bear, not at all. over the course of my 31-plus years in this business i've seen the averages climb way too way, watched the market make people way too much money to ever be that cynical and close-minded. being negative all the time has not historically been a lucrative st
to work with their partners over in europe. at the day of the day, this is all about increasing its exposure in the united king come as well as increasing its weaknesses in europe. it is the most lucrative airport market in the world. those gates there are the key to driving revenue. if delta can get a hold of them then it will really drive greater revenue over there. >> phil, thanks. >>> shares of dell having their best day of the year on the back of an upgrade by goldman sachs. a call out on research in motion an verizon as well. but are they the right call? we'll analyze the analysts straight ahead. >>> plus a cnbc exclusive you don't want to miss. david faber speaking with charter communications ceo thomas rutledge. his first interview since take over that top job. "power lunch" back in two. having you ship my gifts couldn't be easier. well, having a ton of locations doesn't hurt. and a santa to boot! [ chuckles ] right, baby. oh, sir. that is a customer. oh...sorry about that. [ male announcer ] break from the holiday stress. fedex office. tdd#: 1-800-345-2550 after that, it's
conference in just a few hours. as for europe, some green arrows, despite a miss in the eurozone in production this morning. >> the road map starts this morning with, of course, the fed. expectations for revamped bond buying program. what will the economic forecast say about next year and what to make of the "wall street journal" story that says academics are driving monetary policy at secret dinners in switzer land. >> more counteroffers in the debt negotiations. it looks like corporate taxes are part of the deductions. >> costco beats by 2 cents, better sales and better sales and membership fees. >> some more reports about apple tv today. the journal said it's designing a high -- new high-resolution set. microsoft trying to widen the list of retailers that will carry the surface tablet. the fed is going to wrap up its two-day meeting. a watch is on to see if ben bernanke and policy makers make a decision about the interest rates. later on, the chairman will hold a news conference, and of course, cnbc, will bring it to you live. coverage beginning at 2:00 p.m. eastern. jim, a lo
, businesses started cutting back aggressively. and i think that was partly because of concern over europe. conference over china. businesses are running very, very clean right now. i do think there's capacity. >> and maybe that business investment will help the consumer who will feel the pinch of higher taxes? >> that's the hope ultimately is that you get that multiplier. businesses and corporations have been doing well, they have cash on the balance sheets and they start lending. i think one of the other crucial components is credit creation. it can't just come from large corporations. it has to come from medium and small bess. >>> coming up, bob doll gives us his outlook for the fed. linking rates to the unemployment rate. then at 8:00 eastern, a cnbc exclusive, david tepper, one of the world's top performing hedge fund managers will give us some of his investing wisdom and what will be a can't miss "squawk box" interview coming right back. [ penélope ] i found the best cafe in the world. nespresso. where i never have to compromise on anything. ♪ where just one touch creates the perf
, the meeting at the white house, 3:00 between the president and some congressional leaders. as for europe, getting some data out of japan overnight and some data out of europe. currently red arrows across the board, in london, paris, and frankfort. our road map begins at the white house. congressional leaders set to meet with the president, 3:00 p.m. this afternoon. senator reid has already said hopes of a deal are fading quickly. just two trading days left until the cliff. and it's not just the fiscal cliff. wind farms and dairy are set to get hit. >> the ports of the east coast and gulf coast are bracing for a potential strike. the potential for this, midnight sunday with a shutdown threatening to threaten 20% of the cargo traffic. >> and instagram feeling the sting of the flap around privacy with users, fleeing the site. how will this impact facebook? >> as we mentioned, dennis berman, "wall street journal" market place editor is joining us here on set once again for the next hour. good to have you back, dennis. lots to talk about between the cliff and other news. >> three days before
right after the open. as for the action in europe, taking its cues from the united states. we'll see a big rally in china extending one of its biggest rallies in three years. we have a mixed bag in europe with italy up by about .2 of 1%. >> we'll do our best to keep focused on the business day. we'll be following the tragic shooting in connecticut, of course. the new york stock exchange will hold a moment of silence to honor the victims in the next few moments, and we'll be looking at the president's call for meaningful action and the politics of gun control. >> let's get to a road map for this morning. it starts with apple. under pressure once again. even dipping below $500 a share at some point this morning. shares will remain range bound near term. iphone 5 sales and cannibalization among the region. >> other concessions from the gop, the speaker proposing tax hikes for millionaires. could this be the tipping point. moving the talks beyond deadlock. >> a big week for earnings. yes, earnings. fedex, research in motion among the companies reporting. so finally maybe we'll be talking
. didn't raise the maximum amount. that's where we stand. it's another cautious day under way in europe. back to you guys. >> might get my haircut like hers, ross. you know, that anna wintour. that bizarre -- do you think you can manage it? >> a page boy. >> you think you carry that one? >> you'd look awful. >> you know what? we're going to do it. >> you're asking these guys to put me -- >> you'd look good in that one from "dumb & dumber." >> yeah. i make that sound. the most annoying -- you want me to do that? >> no, we don't. >> morgan stanley is trying to bolster lending. some advisers are said to have left the firm due to a lack of lending capacity. you didn't bargain for this, did you? we're asking you about your company. is that okay? >> absolutely. >> greg funding -- we already know he joins us. you did provide investors with an update. >> yes. >> ross, you want to get into this conversation as well? you hear him? >> he's gone. >> he's gone now. our audio guy is drinking or something. what did you tell them? >> i told them that we have a great business in wealth management. we've
fractionally. other news out of europe, debt tieback for from an day to receive additional buyback offers. those would be at deeply discounted prices and that would help lower the country's debt lead. >>> in asia, stocks touched a 16-month high and closed mostly higher on the session with good gains, as you can see, with the kospi up the most, 1.5 points. >> strong nebs out of china which suggest maybe the economy is rebounding more than expected. >> the exports. >> yeah. >> among the catalyst in asia trading today, economic stats out of china. export growths slowed sharply to 2.9% in december. that news j underscores the global headwinds dragging on the economy. but the chinese economy is showing solid signs of a pick up in domestic activity. industrial output was stronger than expected. the country has been saying for years it needs to shift a little bit from the export model the internal consumption. let their middle class grow and not be nearly as dependent on exports. and china's oil demand in november surpassed 10 million barrels per day for the first time ever. the country's crude
right now at where things stand in europe, you'll see that the ftse is barely higher. but you do see a bit of a decline for germany and france and modest moves across all of these markets. the bank of japan easing monetary policy again today, announcing an increase of its asset buying and lending program by more than $118 billion. that move was widely expected as part of the reason that you had seen the yen under quite a bit of pressure, yesterday, at least. you'll see right now that in japan, the market there actually closed down by just over 1%, 1.2% almost. the hang seng and the shanghai composite were slightly higher. oil prices this morning, you'll see right now, are down by about 4 cents to $89.94, so you have things to pick up in those prices over the last couple of days. and the ten-year note at this point which yesterday was yielding above 1.8%, dropping down to 77.2%. finally, take a look at the dollar and gold. yen is at 83.99. gold prices this morning with all these movements in the currency markets up by about $1.10. >>> winter storm draco is moving across the united sta
german blue chips, especially when you consider the fact that we are in and out of recession in europe, we have a real malaise in front of a lot of sectors such as the carmakeres and that hasn't stopped the likes of vw, the likes of porsche, the likes of bmw having a very strong 2012. that's despite the fact that gm's opel said it will cut capacity by 20% in 2013. so we are seeing at the moment a real complacency regarding the fiscal cliff, but it's low volumes here as we enter the last hour or so of trading. back to you. >> we also have some news to bring you, broken last night. i expect john harwood talked about it on the special that we did last night. secretary of state hillary clinton is in a new york hospital this morning being treated from a blood clt clot resulting from a concussion you suffered earlier this month. she had been expected to return to work this week. >>> coming up, deal or no deal? we're going to look beyond the fiscal cliff and what it will mean for the markets. we have jim o'neill. he's going to join us to talk about whether he is bullish for the start of 2013
economic times in europe and also the cooling of the luxury goods boom have really taken their toll. i believe consumption is expected to get better going into the beginning of the year, new year's and popping all and all of that kind of thing. still, even with that, it's not going to be enough to lift overall sales from a year earlier. and what's really interesting, chris, is that a downturn in -- it really shows that this drop in champagne shows that champagne's fortunes are very closely tied to europe's economic health and to the confidence of french consumers who account for half of champagne sales. >> all those bubbly french people. thank you so much. who knew that half of champagne sales are in france. thank you, mandy. >> thank you. >>> in the mood for a great burger to go with your champagne? food and wine is out with a list of best burgers. minetta tavern in new york city, in-in-out burger in california and michael's genuine food and zuni cafe in san francisco. there's a whole list on our website. raise your rate cd. tonight our guest, thomas sargent. nobel laureate in economi
with modest gains. europe holding onto gains and china up nearly 3% over night as shanghai catches a break. our road map begins with a $20 billion deal. freeport mcmoran getting into the energy business making two acquisitions. plains exploration and mcmoran exploration. >>> concerns over the u.s. economy as adp misses estimates. the blame goes to superstorm sandy. goldman says the party is officially over for gold. >> starbucks at an investors conference will add 1,500 stores in the u.s. over the next five years. wait until you hear what they said about china. >> a big day in media. pandora ceo joins us live later this morning as the stock fell nearly 20% on weak guidance and netflix signs a big exclusive with disney. how much are they having to pay up for that? >>> let's deal with this big deal. as i've been telling you we'll see a lot of big deals -- i was wrong. here we are. freeport mcmoran buying not one but two companies. the combined price if you add it all together gets close to $20 billion. that does include debt. let's go through some of the details. it's somewhat complex. let's
that he is in the running tells you quite a lot about the importance of europe this year. earlier today, we were talking about the fact that they had picked trichet on in the past. he doesn't necessarily regret it. he said oppose dollars to some of the other types of running, they look for someone who is having a positive impact. they did consider angela merkel. that's the answers with regard to the person of the year. let me give you a quick sense of what else has been happening in europe overnight. the big moves, we're coming out of asia. 4.3% of the shanghai composite. it just had its best day in three years. this follows some pmi data that supported the idea of domestic spending. of course, it's been this coiled spring market over the last couple of weeks. after we saw the shanghai fall below the 2,000 level, it's in several big days. the news agency tweeted a picture of chinese stockbrokers grinning this morning to give you a sense of the mood. compare that to the nikkei which was down this morning going into the election these weekend likely to put shinzo abe back in power. he's s
. investors waiting to see what comes out of the fiscal cliff negotiations and in europe, a choppy start to the trading day. investors are waiting for the results of greece's bond buyback program occurs. joe has some of the big corporate news and this one is actually a global corporate story. >> hsbc. we're talking about paying $1.9 billion in the money lawnering lapses. a brirchb lender admitting to a breakdown of controls, in a statement announcing a deferred payment. yesterday standard chartered agreed to pay $27 million agreeing that it violates sanctions against iran and two other international companies. >> if you're an international bank and you prael without getting into this kind of trouble? >> no. >> can you actually operate without money laundering? >> i'm just saying, if you're going to be in business in all these types of markets, isn't this going to happen? >> aren't there sxwier countries that would be probably -- that it would stead if you don't want any business tale. >> was there a fascination in this country about whether you want to indict the whole institution or wha
these days. >> and i want to take a look at a longer term chart. in the midst of all this in europe and everywhere else, that is a chart that a lot of people would be envious of. jim, we can't neglect what's happening today in washington. has it affected you at all? have you made any plans? are you doing anything based on what these publioliticians are wrangling' about? >> certainly, it's slowed our growth. >> it has? >> in the couple of years, it's slowed even faster. government was weaker than normal for the quarter and i think we'll see that going forward a bit. it's hurting for us. we have a lot of cash, we have no debt. so it's not a major, major impact. certainly the lack of clarity is hurting our customers and that ultimately affects us, as well. >> so you do business with the government and also the uncertainty around the policy has affected some of your customers to some extend? >> oh, absolutely. now, we sell a high valued proposition, so we do well in downed markets. so at the same time it's hurt us with some government customers. overall, the lack of certainty has led pe
about this? >> sure. absolutely. so we do have patents in the u.s. and in asia, africa, and europe. but in addition to that we have an incredible team of engineers and scientists who are not only developing cook stoves but a whole range of energy technologies. and so where we really see our role as a company is in providing personal scale energy access that's affordable and safe and reliable. >> talk about affordability. how much is this? >> these stoves are $130. >> okay. now, you are in brooklyn, new york. but you don't make these here, right? >> we don't. >> you have a factory -- >> we manufacture -- we manufacture in asia. and then -- but it's all based on the designs and the engineering of the team right here in new york. >> now, i've looked at this in the videos. how long does it take me to make a pot of tea? >> four minutes. >> it takes us four minutes to boil a liter of water. that's it. >> four minutes? >> four minutes. >> well, guys, look, it is omg. i'm thrilled you that came here. this is jonathan cedar. okay? and john levy. biolite's chairman and ceo. thank you so much
for their application to u.s. and europe? >> when you started i was thinking he's really going there. always i wanted this to be espn. ask me about eli manning. no eli lily. it read through the release many times about t times about the alzheimer's drug. i want to pull the trigger on eli manning and hit it on eli lily. rob in florida, rob >> caller: booyah, jim. how you doing? >> real good. how about you? >> caller: good good. my question is about point star teaming up with verizon. >> yeah, i know, man. there's a lot of ways to get tv, isn't there? >> caller: yes, sir. >> well, i got to tell you. i'm not a coin star fan. now netflix, you see that stock today? the coin star thing made me a coin flip for coin star but i like verizon. call me conservative. ben to the rescue. after today it seems like he's the only one trying to get the economy rolling. but he can't do it all by himself which is why we need people to rise above and get a deal. almost any deal before it is too late. "mad money" will be right back. >> coming up, fuel up? america's on track to become one of the world's top energy producers
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